Fin-Ex Property No. 4 (UK) Limited

	Page
Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3—6

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Balance Sheet

As At 31 December 2024

Balance Sheet

Registered number: 08551206

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		381,911		342,871

			381,911		342,871
CURRENT ASSETS
Debtors	5	6,403,723		10,233,082
Cash at bank and in hand		28,320		496,435

		6,432,043		10,729,517
Creditors: Amounts Falling Due Within One Year	6	(44,608,766 )		(44,780,485 )

NET CURRENT ASSETS (LIABILITIES)			(38,176,723 )		(34,050,968 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(37,794,812 )		(33,708,097 )

NET LIABILITIES			(37,794,812 )		(33,708,097 )

CAPITAL AND RESERVES
Called up share capital	7		1		1
Profit and Loss Account			(37,794,813 )		(33,708,098 )

SHAREHOLDERS' FUNDS			(37,794,812)		(33,708,097)

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

K Arora

Director

31 December 2025

The notes on pages 3 to 6 form part of these financial statements.

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Fin-Ex Property No. 4 (UK) Limited

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Fin-Ex Property No. 4 (UK) Limited is a private company, incorporated and domiciled in England & Wales, registered number 08551206 . The registered office is 1 Harrington Gardens, London, SW7 4JJ.

The financial statements are presented in Sterling which is the functional currency of the company and

rounded to the nearest £

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

As at 31 December 2024, Fin-Ex Property No. 4 (UK) Limited had net liabilities of £37,794,812 (2023: £33,708,097) and incurred a loss during the year of £4,086,715 (2023: £4,413,540).

The director has considered the financing facilities available to the company which consist of financial support from Mr K Arora, a director and ultimate controlling party. Mr K Arora has confirmed that he will continue to support the company by not withdrawing funds and providing additional support as required. On reviewing the company’s future cash flow requirements in conjunction with this support, the director believes that it is appropriate to prepare the accounts on the going concern basis.

2.3. Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is accrued throughout the guests’ stay and room charges are recognised in the statement of income and retained earnings prior to checking out of the serviced department.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Depreciation is provided on the following basis:

Fixtures & Fittings

25% Straight line

2.5. Financial Instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

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Fin-Ex Property No. 4 (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Foreign Currencies

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and nonmonetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.7. Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxableprofits; and

Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the

reporting date.

2.8. Pensions

Defined contribution pension plan

The company operates a defined contribution plans for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid, the company has no further payment obligations.

The contributions are recognised as an expense in the statement of income and retained earnings when they fall due. Amount not paid are shown as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2.9. Government Grant

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the statement of income and retained earnings in the same period as the related expenditure.

2.10. Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.11. Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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Fin-Ex Property No. 4 (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.12. Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 17 (2023: 17)

4. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 January 2024	1,923,263
Additions	281,358

As at 31 December 2024	2,204,621

Depreciation
As at 1 January 2024	1,580,392
Provided during the period	242,318

As at 31 December 2024	1,822,710

Net Book Value
As at 31 December 2024	381,911

As at 1 January 2024	342,871

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	3,914	3,914
Prepayments and accrued income	-	1,200
Related Party Receivables	50,495	2,878,769
Amounts owed by group undertakings	6,349,314	7,349,199

	6,403,723	10,233,082

Amounts owed by group undertakings are unsecured, interest free and are repayable on demand.

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	31,472	78,868
Bank loans and overdrafts	106,302	74,982
Amounts owed to group undertakings	37,654,398	40,583,456
Amounts owed to participating interests	5,716,386	3,700,000
Other creditors	182,314	99,228
Taxation and social security	917,894	243,951

	44,608,766	44,780,485

Amounts owed to group undertakings are unsecured, interest free and are repayable on demand.

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Fin-Ex Property No. 4 (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1	1

8. Contingent Liabilities

Company is party to deed of guarantee with Emirates NDB Bank (“the Bank”) in respect of a £42.5million term loan facility agreement between the company’s parent undertaking, a fellow subsidiary, and the Bank, whereby it as guaranteed the obligations of its parent undertaking and the fellow subsidiary under this facility agreement. A contingent liability therefore exists to the extent that the net indebtedness to the bank of Company’s parent undertaking. No liability is expected to crystallise in this respect.

9. Reserves

The reserves comprises all current and prior year retained profits and losses after deducting any distributions made to the company’s shareholders.

10. Post Balance Sheet Events

There are no events after the end of the reporting year that need to be disclosed in these financial statements.

11. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

12. Ultimate Parent Undertaking and Controlling Party

The ultimate holding company is Fin-Ex Holdings Limited, a company registered in Guernsey.

The ultimate controlling party is the Arora Trust.

13. Audit Information

The auditor's report on the accounts of Fin-Ex Property No. 4 (UK) Limited for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by Tafadzwa George Mushambi BSc (Hons) FCCA (Senior Statutory Auditor) for and on behalf of Mushambi and Associates Limited , Statutory Auditor.

Mushambi and Associates Limited

North London Business Park

Oakleigh Road South

London

N11 1GN

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Director	K Arora

Secretary	M Chowdhury

Company Number	08551206

Registered Office	1 Harrington Gardens
	London
	SW7 4JJ

Auditors	Mushambi and Associates Limited
	North London Business Park
	Oakleigh Road South
	London
	N11 1GN